Soriana Organization pointed out that in the first quarter of the year, operating flow amounted to two thousand 955 million pesos (mp), an increase of 1.7 percent compared to the same period last year, when it totaled two thousand 806 million pesos (mp).
Likewise, the company reported that in the period in question its majority net profit was 783 million pesos, which implied a decrease of 26.4 percent compared to the 1,700 million pesos registered in the first quarter of 2023.
He said that in the first quarter, total revenues amounted to 41,879 million pesos, which represented an increase of 6.3 percent compared to the same period of the previous year, an increase that is supported by the increase in same-store sales driven mainly by the formats of low price Mercado and Express, as well as the six percent increase in income from rentals of commercial premises.
He highlighted that the gross profit for the quarter stands at 9,738 million pesos, which is equivalent to a margin of 23.3 percent and represents an annual increase of 3.9 percent derived from greater promotional activity.
The operating expense line showed a growth of 6.9 percent compared to the first quarter of 2023 to stand at 16.6 percent of income, with an amount of six thousand 961 million pesos, this represented an expansion of 10 basis points against said period.
“The increase in this item was due to the increase in personnel costs due to better coverage of vacancies, the net effect of six new stores and the closure of three units, the net increase in advertising expenses and the insurance item with increase derived from premium costs due to the Hurricane Otis accident rate,” the company explained.
